Cryptocurrency experts predict a historic high for bitcoin

Bitcoin BTC $107,691.71 Bitcoin 2.02% Market capitalization $2.14 trillion VOL. 24 hours $1.61 billion continues to grow, consolidating above the $ 105,000 mark and reaching the resistance level of $ 106,500. The asset is supported above $ 103,500 and the 100-hour simple moving average, and a bullish trend line with support at $ 106,000 is forming on the short-term charts.

Analysts point out that a successful breakout above $ 106,500 could see $ 107,200 and $ 108,500 as the next important resistance levels, and in the event of further growth, $ 110,000 and even $ 112,000.

If bitcoin fails to break the $ 106,500 barrier, it may pull back to support at $ 106,000 and $ 105,500. A more significant decline may occur to $ 104,200 and $ 103,500. The main support for the current trend is $ 102,000: if it falls below this level, the bulls risk losing the initiative.

Indicators show a buyer’s advantage: MACD is in the upward zone, and RSI is above 50 points. Thus, if the bullish momentum continues and $ 108,500 is overcome in the near future, Bitcoin may test historical highs.